Weekly Market Wrap

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With Adrian Field, Melbourne
Trading Manager

July 6th, 2007

The tradition continues

ONCE again, the indicator fell in the week leading up to the annual sales recess, although the market was solid considering the strong Australian dollar.

The eastern market indicator fell just 2 cents per kilogram this week to close at 929c/kg.

A total 71,979 bales were offered, with 12.5 per cent passed in.

Sales were held in Fremantle, Sydney and Melbourne, and, once again, it was the fine Merino fleece types that were most affected.

Southern region

Merino fleece of 18.5 microns and finer fell by about 20c/kg, while 23-24 micron types gained a couple of cents.

Merino skirtings generally fell 10c/kg across all microns and crossbred fleece was similar, with the finer end most affected. Cardings again dipped, shedding about 20c/kg.

There is now a three-week recess from sales.

It will be interesting as to how much wool is offered when sales resume. Let’s hope that not too much wool floods the first couple of sales.

As always, currency remains a key focal point. If the dollar weakens, we should experience a better market environment.

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